My Opinion: The POV  seems to be coming from a significant other (addressor) of the same sex (male/female). So, the party addressed (addressee.) is in all likliehood bisexual in orientation. (Which of course increases his/her chances of getting a date on Saturday night...Thx to Woody Allen, that one.) Or else the singer/reciter of the anecdote (story/tale) is reading a rather broadminded male's/female's part. Or intimate male/female friend not currently a lover. (Else they're a sometime thing with getting loaded on drugs being more important than the love thing.)  Some of the lyrics  do seem to make at least oblique reference to drugs, particularly heroin. However, multiple meanings might also be in evidence.  An alternative  interpretation sees the protagonist as someone in the film industry; perhaps a writer-director, suffering from writer's cramp & particular disappointment in the looks (physical appearance) of the woman mentioned, allegedly an actress up for a part. But, who knows. We can also find obscenity--& frequently do-- in Mother Goose &  Mickey Mouse...

Anecdote

you pin the medals to your chest
and settle down for seven minutes rest
you dim the lights, administer the cure
you tried it several times, you're still not sure

you take the first one for free
and pass it on to me
i don't refuse
baby, if you only knew
but i don't think you do

you take the lines from ordinary books
you're disappointed in the way she looks
you cut the circulation to your hand
and calculate the motion of the land

then you, fall back asleep
and wander down the street that losers use
don't say you feel the same way too
honey, i don't think you do

you cut the worms and bait them on the hooks
you cast a line towards the closest brooks
you meet the girl who says she knows the plan
you act impressed and say you understand
'cause you, like to believe, that all that love is free
oh, someone like you, will never be lonely, or get the blues
but darlin', it's not true 

--song composed by Marcus Congleton